Biden Regime Plans to Implement Largest Tax Hike in 30 Years to Punish Americans
President Joe Biden is planning to implement the largest tax hike in 30 years in order to pay for his reckless fiscal policies.
Biden will be reportedly increasing the corporate tax from 21 to 28 percent, raising income taxes on individuals who make above $400,000, increasing business and estate taxes, and raising the capital gains tax for millionaires. This will be done in part to fund the $1.9 trillion in COVID-19 bailout spending and the broader economic plan attached to that proposal.
The Tax Policy Center has estimated that Biden’s tax hikes will steal $2.1 trillion from the American taxpayer over the course of a decade.
“His whole outlook has always been that Americans believe tax policy needs to be fair, and he has viewed all of his policy options through that lens,” former Biden economic aide Sarah Bianchi said to Bloomberg News. “That is why the focus is on addressing the unequal treatment between work and wealth.”
Not every Democrat is happy with Biden implementing America Last economic policies. Sen. Joe Manchin (D-WV) said that raising taxes is a “ridiculous” notion before later folding and then claiming “everything’s open for discussion.”
“People would accept the corporate tax raised a few points but beyond that you’re going to have problems, especially in the middle of an economic crisis,” an anonymous Democrat lawmaker admitted to The Hill in February.
Big League Politics has reported on how Biden’s economic policies are impoverishing countless Americans and rolling back the tremendous progress made by the Trump administration:
“In the month since President Joe Biden entered the US presidential palace, gas prices have risen to an extent previously unseen since before the advent of the coronavirus pandemic.
Gas prices are up more than 10 cents a gallon nationwide in the last week alone. Some have pointed out increases in price that are even greater, with gas prices rising sixty cents a gallon in some areas of Texas since December.
AAA’s national average gas price is listed at $2.63 for a gallon of standard gasoline, increasing a full 25 cents per gallon since the day of Biden’s inauguration.
Biden ended the construction of the Keystone XL pipeline, a pipe from Canada that would have allowed the flow of crude oil without a need for polluting trucks and freight trains.
Biden’s Department of Energy denied a request from the Electric Reliability Council of Texas to temporarily waive some environmental standards during the onset of the winter storm, preventing Texas’ oil infrastructure from producing enough fuel to keep the state’s homes heated and provided with electricity in the historic storm.“
Voters duped by the fake news propaganda machine must be having buyer’s remorse for choosing Biden. Republicans have a great chance to make massive gains in the upcoming elections, if voter fraud concerns are quickly addressed, with Biden’s policies being so destructive and unpopular.